Copper slides on global cues

Copper prices shed Rs 2 per kg at the non-ferrous metals market today, tracking a weak trend overseas.

Traders said sentiments turned bearish after London copper fell today after the dollar rose to a 13-month high against the euro as investors shunned risky assets and sought safe havens amid the Turkish lira's drop to a record low.

Meanwhile, copper for delivery in three-month was down 0.8 per cent to USD 6,142 a tonne on the London Metal Exchange. The most-traded copper on the Shanghai Futures Exchange also dropped 0.5 per cent to 49,600 yuan (USD 7,216) a tonne.

In the national capital, copper mixed scrap declined by Rs 2 to Rs 435 per kg.

Following are today's metal rates (in Rs per kg):

Zinc ingot Rs 131-137, nickel plate (4x4) Rs 912-915, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 435, chadri deshi Rs 295.

Lead ingot Rs 138, lead imported Rs 145, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)